$11.3 mn for energy efficiency in small industries

A tripartite agreement was signed on Monday between the Ministry of Finance, World Bank and Small Industries Development Bank of India (SIDBI) for financing energy efficiency projects for micro, small and medium enterprises.

The project is proposed to be implemented through a Global Environment Facility (GEF) grant of US $11.3 million and is expected to be completed by December 31, 2014, a Ministry of Finance statement said.

The project, divided in four parts, consists of capacity and awareness building, increasing energy efficiency investments, knowledge management and sharing and project management

?The objective of the Project is to increase demand for energy efficiency investments in target micro, small and medium enterprise clusters and to build their capacity to access commercial finance,? said the statement.